I AM announcing today the formation of the Glorious National Party(GNP) whose Principles are outlined below:
The U.S. Treasury WILL ARRANGE FOR
1.Loans in freshly created U.S. Paper Currency to Banks to bring their cash reserves up to 100%. All currency labeled United States Notes will be recalled and burned.
2.Banks would pay 3% interest to the Treasury on these loans.
3.Fed borrows from the Treasury the new currency to bring their cash reserves up to 100% to cover their demand deposits plus all government funds against which checks are being drawn by the government. The amount of U.S. Securities held by the Federal Reserve would be credited against these borrowings, canceling an equal amount.
4.15% flat tax
5.American Jubilee clear all credit
6.Mortgage Reform ½ principal ½ interest no rates higher than 4%
7.All debt above 8% cancelled.
8.New money vouchers up to $30,000 to the unemployed (based on 2008 income) to be used in 90 days or less by job seeker and the employer. After enacted, no one can use the voucher at his former place of employment to prevent the moral hazard of deliberate layoffs. $10,000 Vouchers to buy a new car, $20,000 to buy a new home built to green standards. During the emergency these loans are to be given to reduce the existing housing stock first, and then all new stock will be built to green energy standards. $100,000 to open any enterprise offering invention of energy creating or saving device, zero down, 4% interest repayable in 10 years administered by the SBA. The Creation of a National Job Bank of Employers who agree in advance to accept these vouchers.
9.Treasury expands the New Money ever year by 3% to keep up with population growth. More, in the event of war.
10. 12 Regional Banks in place of Federal Reserve, 12 Member Board, 7 Elected, and Six Appointed by the President.
11. Direct payment in the new U.S. Currency to the Mayors of the 100 largest cities in America for infrastructure, police, fire, schools, unemployment benefits, and welfare, etc. No more local property taxes. No more payment to State Governments. The infrastructure priority will be for rapid transit in concentric circles and performance based education, public, private, or home-schooled. PLUS EMERGENCY FARM AND WATER CO-OPS
12.Direct payment for a Universal Health Care program to insure all claims above 10,000 leaving private insurance to cover all claims under 10K if all pre-existing conditions are covered day.
13.The ending of abortion.
14.10% payment to the poor of the world.
15.CBO will estimate costs of each of these projects without counting interest on national debt, because that is NOW ABOLISHED, saving the Tax Payer 400 Billion a Year!
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